After Camaïeu and André, a major brand announced the closure of dozens of stores! Here’s what you need to know.
The new wave of Off in fashion ! After Camaïeu and André, a recognized brand announced the closure of several dozen of its stores in France. Who is he ?
Cameo and Andre in financial trouble
A few months ago, fashion fans saw two of their favorite brands go out of business. It is in fact Cameo and Andre. Both brands faced challenges Significant financial difficulties Due to which he was forced to close the shop.
It seems that the fashion world is going through some turmoil that greatly affects its financial side. Faced with such difficulties, some brands had no choice but to shut down. Much to the dismay of their most loyal customers.
Initially, brands like Camaieu and André tried to reduce their costs by reducing their workforce. So many employees fired themselves. But for some brands this was not enough.
This is the case of Camaïeu which was subject to judicial liquidation in September 2022. This resulted in the closure of many of the brand’s stores. But also the dismissal of a large number of its employees.
Kookai for his part suffered the same fate. The brand was placed into receivership in February 2023. A few months later, it announced the closure of about twenty stores in its network.
Other innovative brands in textiles and footwear are also in a similar precarious position. Notably San Marina, Kaporal, Don’t Call Me Jennifer or Naf Naf among others…
Another brand closes its doors
Camaïeu and André are far from the only brands to face financial difficulties. In fact, the IKKS brand It has also just announced a large number of store closures.
As a reminder, this is a renowned brand in the field of ready-to-wear. It mainly offers clothing for men, women and children since 1987. The group also owns the I.Code and One Step brands.
Last Monday, February 6, the fashion giant announced the implementation of the job protection plan, PSE. The aim is to reduce the number of employees and close certain points of sale of the brand.
The decision was motivated by the complex financial difficulties facing the group. A surprising situation given the company’s size and experience.
But like Cameo and Andre, IKKS seems to be struggling to cope with financial difficulties. You should know that the company never managed to recover from it Consequences of the Kovid-19 pandemic.
Added to this is the impact the war in Ukraine has had on the industry. Finally, persistent inflation also contributes to this situation which is becoming more and more complicated.
In total, the brand will therefore close 77 of its 700 stores in France. In total, more than 200 of the 1,700 employees currently employed by the group will be affected. For the moment, the brand has not clarified whether the closure also concerns overseas sales issues. Or even the discontinuation of certain brands.
Finally, you should know that the president of the brand, Ludovic Manzone, considered the fate of the employees concerned. The latter will benefit from reclassification to other positions or other companies.
